Romania and Egypt sign cooperation protocol

On an official visit to Egypt, February 21-24, Romanian Minister of Economics and Trade Dan Ioan Popescu met Egyptian Minister of Oil Sameh Fahmy to sign a Joint Action Plan for Cooperation in Oil, Gas and Petrochemicals Sectors, reads a release issued by the Romanian Ministry of Economics and Trade (MEC).
Earlier, Minister Popescu met Egyptian Minister of Industry and Technological Development Aly Fahmy Ibrahim El Saiidi and highlighted the existing good political ties between Romania and Egypt, adding that economic cooperation in various fields is thought to be brought up to a similar level. Popescu mentioned that, to this end, important contracts for tractor assembly, rolling stock trade, foodstuff equipment, pharmaceuticals and textiles were either carried out or negotiated on.

Following these talks, the two ministers agreed upon and signed a memorandum of understanding between Egypt’s Ministry of Industry and Technological Development and Romania’s MEC on cooperation in industries. The document reflects both ministries’ wish to conduct joint industrial projects in Egypt, Romania or third countries.
Popescu also invited the Egyptian official on a visit to Romania, which is to be established by diplomatic officials. Minister Popescu headed an important business delegation to Egypt that comprised officials for prestigious gas, oil and energy companies of Romania, including the SNP Petrom National Oil Corporation, TransGas, Petrom Service, Upetrom, ISPET of Ploiesti, Industrialexport, Romenergo, AEM Luxten Lighting and Electroputere.

Based on the assessment of the suggestions made by business people from both countries, the fields of common interest were identified, along with ways to carry out the provisions in the joint declaration on the framework for future economic and technical cooperation between Romania and the Arab Republic of Egypt signed by the prime ministers of the two countries on December 3, 2003 in Bucharest.